WHOLESALE AND RETAIL PRICES Retail Prices of Food in November, 1931 HE following tables are compiled from simple averages of the actual selling prices1 received monthly by the Bureau of Labor Statistics from retail dealers. Table 1 shows for the United States retail prices of food November 15, 1930, and October 15 and November 15, 1931, as well as the percentage changes in the year and in the month. For example, the retail price per pound of sliced ham was 52.1 cents on November 15, 1930; 44.2 cents on October 15, 1931; and 41.9 cents on November 15, 1931. These figures show decreases of 20 per cent in the year and 5 per cent in the month. The cost of various articles of food combined shows a decrease of 17.5 per cent November 15, 1931, as compared with November 15, 1930, and a decrease of 2.0 per cent November 15, 1931, as compared with October 15, 1931. TABLE 1.-AVERAGE RETAIL PRICES OF SPECIFIED FOOD ARTICLES AND PER CENT OF INCREASE OR DECREASE NOVEMBER 15, 1931, COMPARED WITH OCTOBER 15. 1931, AND NOVEMBER 15, 1930 [Percentage changes of five-tenths of 1 per cent and over are given in whole numbers] TABLE 1.-AVERAGE RETAIL PRICES OF SPECIFIED FOOD ARTICLES AND PER CENT OF INCREASE OR DECREASE NOVEMBER 15, 1931, COMPARED WITH OCTOBER 15, 1931, AND NOVEMBER 15, 1930-Continued [Percentage changes of five-tenths of 1 per cent and over are given in whole numbers] Table 2 shows for the United States average retail prices of specified. food articles on November 15, 1913, and on November 15 of each year from 1925 to 1931, together with percentage changes in November of each of these specified years compared with November, 1913. For example, the retail price per pound of sliced bacon was 27.2 cents in November, 1913; 49.2 cents in November, 1925; 51.0 cents in November, 1926; 46.3 cents in November, 1927; 44.5 cents in November, 1928; 43.0 cents in November, 1929; 42.1 cents in November, 1930; and 32.1 cents in November, 1931. As compared with November, 1913, these figures show increases of 81 per cent in November, 1925; 88 per cent in November, 1926; 70 per cent in November, 1927; 64 per cent in November, 1928; 58 per cent in November, 1929; 55 per cent in November, 1930; and 18 per cent in November, 1931. The cost of the various articles of food combined showed an increase of 11.3 per cent in November, 1931, as compared with November, 1913. TABLE 2.-AVERAGE RETAIL PRICES OF SPECIFIED FOOD ARTICLES AND PER CENT OF INCREASE NOVEMBER 15 OF CERTAIN SPECIFIED YEARS COMPARED WITH NOVEMBER 15, 1913 [Percentage changes of five-tenths of 1 per cent and over are given in whole numbers] Article Average retail prices on Nov. 15 Per cent of increase Nov. 15 of each specified year compared with Nov. 15, 1913 1913 1925 1926 1927 1928 1929 1930 1931 1925 1926 1927 1928 1929 1930 1931 Salmon, red, canned 31.9 34.3 29.9. Milk, fresh.....quart.. Milk, evaporated Butter. 16-ounce can.. Oleomargarine (all) butter substitutes) 2 Beginning with January, 1921, index numbers showing the trend in the retail cost of food have been composed of the articles shown in Tables 1 and 2, weighted according to the consumption of the average family. From January, 1913, to December, 1920, the index numbers included the following articles: Sirloin steak, round steak, rib roast, chuck roast, plate beef, pork chops, bacon, ham, lard, hens, flour, corn meal, eggs, butter, milk, bread, potatoes, sugar, cheese, rice, coffee, and tea. Table 3 shows the trend in the retail cost of three important groups of food commodities, viz, cereals, meats, and dairy products, by years, from 1913 to 1930, and by months for 1929, 1930, and 1931. articles within these groups are as follows: The Cereals: Bread, flour, corn meal, rice, rolled oats, corn flakes, wheat cereal, and macaroni. Meats: Sirloin steak, round steak, rib roast, chuck roast, plate beef, pork chops, bacon, ham, hens, and leg of lamb. Dairy products: Butter, cheese, fresh milk, and evaporated milk. TABLE 3.-INDEX NUMBERS OF RETAIL COST OF CEREALS, MEATS, AND DAIRY PRODUCTS FOR THE UNITED STATES, 1913 TO NOVEMBER, 1931 Index Numbers of Retail Prices of Food in the United States IN TABLE 4 index numbers are given which show the changes in the retail prices of specified food articles, by years, for 1913 and 1920 to 1930, by months for 1930 and 1931. These index numbers, or relative prices, are based on the year 1913 as 100.0 and are computed by dividing the average price of each commodity for each month and each year by the average price of that commodity for 1913. These figures must be used with caution. For example, the relative price of sirloin steak for the year 1930 was 182.7, which means that the average money price for the year 1930 was 82.7 per cent higher than the average money price for the year 1913. As compared with the relative price, 196.9 in 1929, the figures for 1930 show a decrease of 14.2 points, but a decrease of 7.2 per cent in the year. In the last column of Table 4 are given index numbers showing changes in the retail cost of all articles of food combined. Since January, 1921, these index numbers have been computed from the average prices of the articles of food shown in Tables 1 and 2, weighted according to the average family consumption in 1918. (See March, 1921, issue, p. 25.) Although previous to January, 1921, the number of food articles varied, these index numbers have been so computed as to be strictly comparable for the entire period. The index numbers based on the average for the year 1913 as 100.0 are 119.1 for October, 1931, and 116.7 for November, 1931. For index numbers of each month, January, 1913, to December, 1928, see Bulletin No. 396, pp. 44 to 61; and Bulletin No. 495, pp. 32 to 45. Index numbers for 1929 are published in each Labor Review, February, 1930, to February, 1931. |